Advisor demands $30 million for Thai investment in EMG

Yossi Maiman's lawyer: The share deal did not involve Maiman but was arranged directly between the two sides.

EPSI consultants, which specialize in energy and infrastructure deals related to Thailand, are demanding that Merhav Group president and CEO Yossi Maiman pay them a $30 million fee for investments by PTT, the national Thai oil and gas company, in Maiman's Middle East Gas Corporation (EMG).

EPSI today sent a letter through Adv. Mora Meiri of Matry, Meiri & Co. Law Offices demanding payment of the fee. EPSI, owned by Tal Meirovich and Amir Hochenberg claim that they acted as sold representatives of Merhav in all matters regarding the investment of $490 million by the Thai company for a 25% stake in EMG. The holding was acquired from Maiman's Egyptian partner Hussein Salam.

According to EPSI, Maiman approached them for assistance in finding a strategic partner for EMG.

In response Maiman has written a letter thorugh his lawyer Eldad Firon claiming that the share deal in no way involved him and that the transaction took place following direct negotiations between the two sides.

Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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